greentech enters Polish PV market with winning major O&M contract for 66MWp portfolio of Lords LB Asset Management’s fund

solar park in Poland
(PresseBox) ( Hamburg, )
Energy and Infrastructure SME Fund, managed by Lithuanian-based investment company Lords LB Asset Management, is currently finalising the construction and grid connection of its 66 x 1 MWp photovoltaic projects distributed over northern Poland. For the Operation and Maintenance of the portfolio, Energy and Infrastructure SME Fund awards greentech with a 5 year full-scope O&M contract concluded with 8 fund-owned special purpose vehicles established in Poland.

Commencing with the provisional acceptance greentech will take care of all major O&M tasks such as monitoring, reporting, incident management, preventive and corrective maintenance as well as landscape management and module cleaning.

Whilst the sites are on their way to provisional acceptance by Lords LB Asset Management’s fund, the onboarding to greentech’s monitoring platform and processes has already begun to secure a seamless transition and gapless surveillance of every project. The site-specific start of the O&M services is scheduled for the second quarter of 2020.

“As the Polish PV market is evolving, we were looking for a professional and reliable partner who is able to deliver the required scope and quality of service. greentech has the experience and the credibility to be the right service provider for this investment.” (Domas Kacinskas, Board Member at Lords LB Asset Management and Manager of Energy and Infrastructure SME Fund)

“It is very exciting to be entering the Polish market as O&M provider for this portfolio. We highly appreciate the trustful partnership with Lords and can’t wait to start the operations for all these sites.” (Jörn Carstensen, Managing Director at greentech)

65 solar parks out of the total of 66 have already been built. The total capacity of all newly built solar parks in the discussed portfolio will reach 65.5 MW and will produce approximately 68 thousand MWh of electricity in the first year, while the installed capacity of all solar power plants in Poland has reached around 1.3 GW in the end of 2019.

About Energy and Infrastructure SME Fund

Energy and Infrastructure SME Fund was established in 2016. Fund focuses on investing in the renewable energy, infrastructure and public-private partnership cooperation projects in the Baltics and Poland and aims to raise capital up to 75 million euros.

About Lords LB Asset Management

Lords LB Asset Management is a premier provider of investment management services to institutional clients and high net worth individuals. Established in 2008, Lords LB Asset Management focuses on real estate and private equity investment strategies. The company currently manages 15 funds: 12 real estate funds, 2 private capital funds and 1 energy and infrastructure funds. The total value of assets managed by the funds reached more than EUR 530 million at the end of December 2019.

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